Fundraising Fox

Topl (Now Plasma)

London, GB · 62 employees on LinkedIn · 16 known investors

Plasma is a financial technology company offering Plasma One, a stablecoin-based account and Visa card that supports USD₮ transfers, cashback, and yield through third-party DeFi protocols. It targets consumers seeking to hold, spend, and earn on stablecoin assets.

Also known as Plasma · Plasma One · Topl

Crypto & Web3Fintech

Investors · 16

1/1 CapitalMiami Beach
6th Man VenturesNew York · $2M – $5M
Beni Venture CapitalMiami · $100K – $250K
Mercury FundHouston · $250K – $4M
Mirana VenturesHong Kong · $2M – $20M
Pharsalus CapitalNew Yorkvia Anthony Ghosn · inferred
Shine CapitalNew York · $1M – $10M
8090 IndustriesreportedNew York
Bitfinexreported
Chingona VenturesreportedChicago · $250K – $2M
Congruent VenturesreportedSan Francisco · $100K – $5M
Founders FundreportedSan Francisco · $500K – $5M
Framework Venturesreported · 2 sourcesSan Francisco · $250K – $40M
Lowercarbon CapitalreportedNew York · $100K – $5M
RA CapitalreportedBoston
Toyota VenturesreportedLos Altos

Funding

SEC filings, press & company announcements

Source: company announcements and press reports — follow each round's link for the claim.

Company profile

researched Aug 2026

Plasma operates Plasma One, a consumer application that lets users hold US dollar-denominated stablecoin balances, deposit stablecoins, add local currency and convert it into dollars, send money across borders, and spend with a Plasma card that can be added to Apple Pay or Google Pay. Cards are offered in both virtual and physical form and can be issued within minutes of sign-up.

The product advertises up to 4% cashback on qualified purchases, up to 6% earnings on held balances until they are spent, free cross-border transfers, and acceptance in more than 180 countries wherever Visa is accepted. Users can withdraw funds locally at any time. Plasma One is available as a mobile app, including on Android.

Plasma One runs on the Plasma network, a purpose-built blockchain the company describes as designed for fast, low-cost and reliable stablecoin payments at global scale.

Business model

Plasma provides a consumer-facing stablecoin account and payment card, with tiered service levels; the site references a Core tier offered free for a promotional period, indicating paid subscription tiers alongside card and transfer functionality.

Traction

The company promotes availability of the Plasma One app on Android and offers virtual and physical cards issued within minutes.

Latest developments

Plasma One became available on Android, accompanied by a promotion granting a free Core tier for six months, running until 21 July 2026.

▸Full profile — technology, go-to-market, geography

Technology

Plasma One is built on the Plasma network, a blockchain purpose-built for stablecoin payments, aiming for speed, reliability and low cost at global scale. Card credentials can be provisioned to Apple Pay and Google Pay wallets.

Go-to-market

Direct-to-consumer distribution through mobile app downloads (including Android), supported by promotional offers such as a free Core tier for six months and rewards including cashback and yield on balances.

Consumers who want to hold dollar-denominated stablecoin balances, move money across borders, and spend globally, including users who fund accounts in local currency and want dollar exposure.

Geography

Card spending is supported in more than 180 countries wherever Visa is accepted; the company is headquartered in London.

Compiled by commissioned research from 3 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
Cashback on qualified purchasesJan 2026up to 4%
Countries where card is acceptedJan 2026180
HeadcountAug 202662
Yield on held balanceJan 2026up to 6%

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Competitors · 10

by search overlap
Coinbase123 shared keywordsCoinbase is a cryptocurrency exchange platform that offers trading, custody, and financial services for cryptocurrencies, stocks, derivatives, and prediction markets to consumers, institutions, and developers. The company operates a full-stack infrastructure including secure custody, liquidity services, stablecoin infrastructure, and global settlement rails.
Kraken83 shared keywordsKraken 360 Investments provides capital and launch infrastructure to blockchain protocols in pre-token and early post-token phases, offering custody, staking, treasury, and liquidity services alongside fundraising support.
Crypto78 shared keywordsCrypto.com operates a regulated all-in-one financial app where users can buy, trade, earn, and spend cryptocurrencies, stocks and ETFs, and prediction market contracts, plus a self-custody onchain wallet with DeFi access. It serves retail and institutional investors globally, with equities and prediction markets offered to US users under SEC and CFTC regulation.
Stripe77 shared keywordsStripe provides financial infrastructure for businesses to accept payments, offer financial services, and implement custom revenue models across international markets in 135+ currencies.
Industries67 shared keywordsJ.P. Morgan is a global financial services firm serving corporations and individuals in more than 100 countries, offering investment research, tools, data, analytics, and advisory services. It supports institutional investors, asset and fund managers, hedge funds, broker dealers, and equity issuers with liquidity, fixed income strategies, and equity compensation solutions.
Interactive Strength Acquires Ergatta64 shared keywordsFidelity provides brokerage and investing services for individual retail investors, including commission-free online trading of US stocks and ETFs and fractional share purchases starting at $1. It positions itself as a personal finance and investment provider serving customers pursuing long-term financial goals.
KuCoin62 shared keywordsKuCoin is a cryptocurrency exchange where users can trade digital assets. It highlights proof-of-reserves transparency and ranks among the larger crypto trading platforms.
Experian60 shared keywordsExperian offers consumers tools to access their credit report and FICO Score, build credit, and manage money, including credit card matching, bill and subscription negotiation, car insurance comparison, and a digital checking account with debit card. It serves individual U.S. consumers through its app and financial products.
Ledger56 shared keywordsLedger provides hardware and software cryptocurrency wallet solutions that enable users to buy, swap, earn, and manage digital assets with security features and portfolio tracking capabilities across multiple blockchain networks.
Chainalysis56 shared keywordsChainalysis provides investigative services and training programs for cryptocurrency compliance and risk mitigation. The company serves organizations managing crypto assets through expert support, training certifications, and intelligence capabilities.

Companies competing with Topl (Now Plasma) for the same Google search keywords, organic and paid, via search-intersection analysis.

Timeline · 1

launches, deals, and filings
Jan 2026
Plasma One app made available on Android

Plasma announced availability of its Plasma One stablecoin account app on Android, alongside a promotion offering the Core tier free for six months ending 21 July 2026.

source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

In the news

Avalanche Energy | Avalanche Energy Raises $29 Million Following Plasma Physics Breakthroughsavalanchefusion.com · Apr 2026Avalanche Energy Raises $29 Million Following Plasma Physics Breakthroughsprnewswire.com · Feb 2026Circulate Health Raises $12 Million in Seed Funding to Accelerate Research in Longevity and Expand Therapeutic Plasma Exchange (TPE) Treatment Centersprnewswire.com · Jul 2025Exclusive: Stablecoin company Plasma raises $24 million from Framework to launch its own blockchain | Fortunefortune.com · Feb 2025Crypto Project Plasma Raises $20M to Develop Bitcoin-Based Network for Stablecoinscoindesk.com · Feb 2025

▸Research sources · 3

primary sources listed

3 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Topl (Now Plasma) do?
Plasma offers a stablecoin-based account and Visa card for spending, sending and earning on dollar balances.
Who are Topl (Now Plasma)'s investors?
Topl (Now Plasma)'s investors include 1/1 Capital, 6th Man Ventures, Beni Venture Capital, Mercury Fund, Mirana Ventures, Pharsalus Capital, Shine Capital, 8090 Industries and 8 more.
Where is Topl (Now Plasma) headquartered?
Topl (Now Plasma) is headquartered in London, GB.